#ES_F - Finally hits the 9Day EMA!
There was a rejection in the area of 4675-80 in the first half of the opening of the market, which was also the daily high. On Monday, the area was defended by buyers, but I think sellers have came in and pushed through that very level after it broke yesterday. Shorting the area would give a pretty decent risk-reward ratio.
Now I would be looking into a more neutral position as there are some support levels below at around 4623-27 that was tested today. Below that, 4612-20 could be another level of stronger support, with last week's HVN at 4617.5.
Now I would be looking into a more neutral position as there are some support levels below at around 4623-27 that was tested today. Below that, 4612-20 could be another level of stronger support, with last week's HVN at 4617.5.
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